Packaging Market Size to Grow by USD 223.96 Billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics

NEW YORK, November 26, 2022 /PRNewswire/ — Technavio categorizes the global packaging market as part of the metal and glass container market, the parent market. The metal and glass containers market covers combined revenue generated by manufacturers/suppliers of metal, glass and plastic containers and paper packaging. The global packaging market size is estimated to increase with USD 223.96 billion from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 3.92%.

Technavio has announced its latest market research report titled Global Packaging Market 2023-2027

Technavio has announced its latest market research report titled Global Packaging Market 2023-2027

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Global packaging market Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

Global packaging market – Seller analysis

Seller Landscape – The global packaging market consists of a few well-established players involved in the design and manufacture of packaging solutions for various applications across a wide range of industries. These suppliers make significant investments in R&D to push better products into the market and expand their customer base.

Some major players are expected to implement some new strategies to gain competitive advantages during the forecast period. Mergers, acquisitions and strategic partnerships are some of the ways that the vendors in this market are using to strengthen their position.

Vendor Offers –

  • Ardagh Metal Packaging SA: The company offers packaging services such as beverage cans.

  • Ball Corp.: The company offers packaging services such as Alumi-Tek Bottle, Crowler Can and Widget Inside.

  • Berry Global Group Inc.: The company offers packaging services for dispensers, bottles and vials.

  • CCL Industries Inc.: The company offers packaging services such as high barrier films, easy open films and high speed films.

  • For details about seller and his offers – Buy Report!

Global packaging marketSegmentation Assessment

Geography Overview

By geography, the global packaging market is divided into APAC, North America, Europethe middle east and Africaand South America. The report offers actionable insights and an accurate estimation of the contribution of all regions to the growth of the global packaging market.

  • APAC has a 41% share of the global packaging market in 2022. The market in the region is estimated to grow at the fastest rate during the forecast period. The region is emerging as the major manufacturing hub for various industries. The booming e-commerce industry, the rising trend of online shopping and the increase in population have increased the demand for various goods through online channels. All these factors increase the demand for packaging solutions in the region.

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Segment Overview

By end-user, the global packaging market is segmented in food, beverage, healthcare, personal care and others.

  • The market share growth of the food segment will be higher than the other segments during the forecast period. The segment is mainly driven by the increasing global demand for canned and packaged food products. Changes in lifestyle and eating habits due to the influence of western culture are some of the other factors influencing segment growth.

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Global packaging market – Market dynamics

  • Impactful manager – The growth of food delivery and takeaway is driving the growth of the market. Rapid urbanization coupled with the busy lifestyles of consumers has led to an increase in demand for convenient and on-the-go foods. There is also a significant rise in demand for food delivery and takeaway services with the increasing adoption of smartphones and the growing m-commerce industry. The rise in online food ordering has led to an increase in the number of players offering food delivery services. The growth of food delivery and takeaway services subsequently increased the demand for packaging solutions in the food industry. All these factors contribute to the growth of the market.

  • Key Trend – Innovative market strategies adopted by sellers are the key trend in the market. Vendors in the market are adopting various growth strategies to stay competitive and gain an edge over their competitors. One of the key strategies used by sellers is the continuous development of new products. Similarly, some vendors are focusing on strengthening their consumer base by expanding their operations in new markets. Many such strategies used by sellers positively affect the growth of the market.

  • Big challenge – Environmental issues surrounding the use of plastic packaging are the major challenges hindering market growth. Most end users in the market prefer disposable plastic packaging as it is cheaper and helps to maintain a specific temperature for a longer period of time. Most of the disposable plastic packaging materials used by end users are made of polystyrene or polypropylene, which do not decompose easily. This leads to the accumulation of a large amount of solid waste. As a result, many governments are undertaking various initiatives for this issue by imposing restrictions on the use of plastic. Such measures reduce the use of plastic packaging, which is expected to influence the growth of the global packaging market.

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Driver, trend and challenges are the factors of market dynamics that tell about the consequences and sustainability of the businesses, find some insights from a free sample report!

What are the key data covered in this packaging market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the packaging market between 2023 and 2027

  • Exact estimation of the size of the packaging market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the packaging market industry in APAC, North America, Europe, middle east and Africaand South America

  • Thorough analysis of the market’s competitive landscape and detailed information on suppliers

  • Comprehensive analysis of factors that will challenge the growth of packaging market vendors

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  • The mushroom packaging market share is expected to increase by 111.64 million units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 14.06%. Initiatives by governments supporting environmentally friendly packaging are one of the key drivers supporting the growth of the mushroom packaging market.

  • The market for perforated packaging films share is expected to increase to USD 665.78 million from 2021 to 2026, at a CAGR of 5.1%. The growing European import of frozen food is particularly driving the growth of the perforated packaging film market, although factors such as the volatility in raw material prices may hamper the market growth.

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Packaging market scope

Report coverage

Details

Page number

186

Base year

2022

Historic year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerating at a CAGR of 3.92%

Market growth 2023-2027

USD 223.96 billion

Market structure

Fragmented

Yes-year growth (%)

3.72

Regional analysis

APAC, North America, Europe, the Middle East and Africa, and South America

The implementation of market contribution

APAC at 41%

Key consumer countries

USA, Canada, China, India and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Key companies profiled

Amcor Plc, AptarGroup Inc., Ardagh Metal Packaging SA, Ball Corp., Berry Global Group Inc., CCL Industries Inc., CKS Packaging Inc., Crown Holdings Inc., DS Smith Plc, DuPont de Nemours Inc., Genpak LLC, Gerresheimer AG, Graphic Packaging Holding Co., Mondi plc, and Packaging Corp. of America.

Market dynamics

Parent market analysis, market growth inducers and barriers, fast growing and slow growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Adjustment range

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize segments.

INDEX:

1 Executive Summary

2 Market landscape

3 Market size

4 Historical market size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market Segmentation by Type

8 Customer landscape

9 Geographical Landscape

10 drivers, challenges and trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their customer base consists of businesses of all sizes, including over 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
website: www.technavio.com/

Global Packaging Market 2023-2027

Global Packaging Market 2023-2027

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